California Public Employees Retirement System Cuts Stake in ServisFirst Bancshares, Inc. (SFBS)

California Public Employees Retirement System lowered its position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 2.1% during the first quarter, Holdings Channel reports. The firm owned 23,500 shares of the financial services provider’s stock after selling 500 shares during the period. California Public Employees Retirement System’s holdings in ServisFirst Bancshares were worth $855,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in ServisFirst Bancshares by 7.2% in the first quarter. Teachers Advisors LLC now owns 81,202 shares of the financial services provider’s stock worth $2,954,000 after buying an additional 5,487 shares during the period. Principal Financial Group Inc. raised its stake in ServisFirst Bancshares by 4.9% in the first quarter. Principal Financial Group Inc. now owns 360,261 shares of the financial services provider’s stock worth $13,106,000 after buying an additional 16,695 shares during the period. Rafferty Asset Management LLC acquired a new stake in ServisFirst Bancshares during the first quarter worth about $771,000. Municipal Employees Retirement System of Michigan raised its stake in ServisFirst Bancshares by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 10,100 shares of the financial services provider’s stock worth $367,000 after buying an additional 160 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in ServisFirst Bancshares by 16.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 57,030 shares of the financial services provider’s stock worth $2,075,000 after buying an additional 8,039 shares during the period. Institutional investors own 43.45% of the company’s stock.

Shares of ServisFirst Bancshares, Inc. (SFBS) traded down 0.577% during midday trading on Tuesday, hitting $35.305. 6,513 shares of the stock were exchanged. The firm has a 50 day moving average of $36.34 and a 200 day moving average of $37.48. The firm has a market cap of $1.87 billion, a P/E ratio of 21.397 and a beta of 1.38. ServisFirst Bancshares, Inc. has a 12-month low of $24.70 and a 12-month high of $42.66.

ServisFirst Bancshares (NASDAQ:SFBS) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $60.37 million during the quarter, compared to the consensus estimate of $60.33 million. ServisFirst Bancshares had a net margin of 35.15% and a return on equity of 16.67%. Equities analysts forecast that ServisFirst Bancshares, Inc. will post $1.80 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “California Public Employees Retirement System Cuts Stake in ServisFirst Bancshares, Inc. (SFBS)” was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.com-unik.info/2017/08/15/california-public-employees-retirement-system-cuts-stake-in-servisfirst-bancshares-inc-sfbs.html.

A number of research firms have issued reports on SFBS. Zacks Investment Research lowered shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Stephens reiterated a “hold” rating and set a $38.00 target price on shares of ServisFirst Bancshares in a report on Wednesday, July 19th. BidaskClub lowered shares of ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Finally, Hovde Group upgraded shares of ServisFirst Bancshares from an “underperform” rating to a “market perform” rating and set a $37.00 target price on the stock in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $49.75.

ServisFirst Bancshares Company Profile

ServisFirst Bancshares, Inc is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company’s principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions.

Want to see what other hedge funds are holding SFBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServisFirst Bancshares, Inc. (NASDAQ:SFBS).

Institutional Ownership by Quarter for ServisFirst Bancshares (NASDAQ:SFBS)

What are top analysts saying about ServisFirst Bancshares Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for ServisFirst Bancshares Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit